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Labour vs. Tories: Which party will raise taxes the most?

Whoever wins the general election, taxes will rise.

On the surface, the Tories are touting a £17 billion tax cut package, the biggest of which is a cut in the main national insurance contribution for workers. Labour is promising to make do with limited tax increases of £8.6 billion and has specifically ruled out increases for “working people”: income tax, national insurance and VAT.

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